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Accounts (Principles of Accounts) · Final accounts of a sole trader

Accounts (Principles of Accounts)Final accounts of a sole traderWAEC

Opening stock ₦5,000, purchases ₦20,000, closing stock ₦4,000. Cost of goods sold is

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Answer: B. ₦21,000

5,000 + 20,000 − 4,000 = 21,000.

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